Cement News tagged under: Weekly Newsletter
Cementos Melon inaugurates new grinding unit25 May 2022, Published under Cement NewsChile-based Cementos Melón has officially inaugurated its new grinding unit about 8.5km north of Punta Arenas in the country’s southern Magallanes region. The new 0.25Mta plant represents an investment of US$45m and is expected to produce 80,000t of cement in its first year as it ramps up capacity. At the inauguration, Cementos Melón General Manager, Jorge Eugenín, said: “For us Magallanes has always been an interesting market, its consumption is comparable to cities in developed count... |
Drake Cement inaugurates new finish mill24 May 2022, Published under Cement NewsRicardo Rizo Patrón, chairman of Skanon, the Board of Directors of Skanon Investments and Skanon CEO, Enrique Rozas, visited the Drake Cement plant on 11 May to inauguration the new finish mill at Drake Cement, Paulden , Arizona, USA. With this new project, Drake Cement and Materials continues to expand, reduce its environmental footprint and improve sustainability while offering high-quality products to its customers. The new mill is a vertical roller mill and the draft environmental re... |
Nuvoco Vistas Corp sees 24% increase in revenue in FY21-2223 May 2022, Published under Cement NewsIndia-based Nuvoco Vistas Corp has announced its audited financial results for the financial year ended 31 March 2022. Consolidated revenue from operations improved by 24 per cent to INR93.18bn (US$1.2bn) for FY21-22 while consolidated EBITDA reached INR15.39bn and profit after tax at INR320m. Consolidated net debt declined by INR16.66bn to INR50.64bn in the FY21-22. Commenting on the financial results, Nuvoco Vistas Corp MD, Jayakumar Krishnaswamy, said: "FY22 was an exceptionally c... |
Yanbu Cement sees 17% fall in 1Q22 revenue23 May 2022, Published under Cement NewsYanbu Cement has reported a 17.4 per cent YoY decline in revenue to SAR242m (US$64.53m) in the opening quarter of 2022. However, this was still above the SAR224m estimated by Al Rajhi Capital. Gross profit over the same period contracted by 33 per cent YoY, while operating profit fell by 41.4 per cent, according to Trade Arabia. The Saudi company attributes the decline to a 6.7 per cent fall in cement volumes, which came in at 1.3Mt in the 1Q22. This compares to an average contraction... |
CMS sees 1Q revenues up by 6%23 May 2022, Published under Cement NewsMalaysia-based Cahya Mata Sarawak Berhad (CMS) reported a revenue of MYR214.04m for the first quarter ended 31 March 2022, up six per cent YoY from MYR202.06m. Profit before tax improved to MYR83.86m in the 1Q22 from MYR82.56m in the 1Q21 due to a better performance by the Cement and Road Maintenance businesses and a higher share of results of associates by MYR15.42m. Although higher raw material costs and global supply chain constraints challenged the company’s operations, key initiat... |
JK Cement 4Q net profit advances 36%23 May 2022, Published under Cement NewsIndian cement producer JK Cement reported a standalone net profit of INR862.6m (US$11.1m) for the quarter ended 31 March 2022, representing an increase of 36.2 per cent when compared with the 1Q21 when net profit reached INR633.4m. Net revenue increased 10.6 per cent to INR22.689bn in January-March 2022 ffrom INR20.525bn in the year-ago period. However, operating expenses were up 16.9 per cent tYOY to INR18.863bn from INR16.338bn in the 4Q21. The company’s operating profit slipped by... |
Cemex and Coolbrook to work on electric cement kiln18 May 2022, Published under Cement NewsCemex announced that it expects to work with Coolbrook to test their patented technology that uses electricity in place of fossil fuels in the heating process of cement production. The companies have reached a memorandum of understanding (MoU) to combine their expertise to develop optimal electric process heating solutions that can be applied in the cement manufacturing process. Coolbrook's Roto Dynamic Heater (“RDH”) technology aims to revolutionise cement production by replacing foss... |
UltraTech Cement opens second clinker line at Hirmi18 May 2022, Published under Cement NewsUltraTech Cement , the country’s largest cement producer, has added 2.7Mta of capacity by commissioning a second clinker line at Hirmi Cement plant in Chhattisgarh. The company will add another 1.3Mta of capacity at the same plant by the June quarter. The commissioning of the clinker unit was completed well ahead of schedule and is a unique achievement considering the slowdown faced in project work earlier during the year due to COVID, said the company in a statement. UltraTech has ... |
Multiple potential buyers for Holcim Russia17 May 2022, Published under Cement NewsMore than 30 potential buyers have expressed an interest in Holcim’s Russia business, according to Jan Jenisch, CEO, Holcim. Holcim announced in March that it plans to exit the Russia market following the country’s invasion of Ukraine. “The process has started, it has to be done with very great diligence. We have had many inquiries,” Mr Jenisch told Reuters. “We don't expect to write it off completely, I would hope this business has a value. You have to give us a couple of months t... |
IFC to fund Diamond Cement Guinea with US$30m loan17 May 2022, Published under Cement NewsThe International Finance Corporation (IFC) has agreed to provide a US$30m loan to Diamond Cement Guinea , a subsidiary of West African Cement (WACEM), to support the completion of their 0.75Mta integrated cement plant. The new greenfield plant, which is located approximately 25km from the town of Sougueta, Kindia prefecture, is the first integrated cement plant in Guinea. The plant’s 1500tpd clinker line commissioned in April 2021, while the 0.8Mta grinding unit will be commissioned i... |